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1004mc

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by wade3333, Dec 31, 2008.

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  1. wade3333

    wade3333 Senior Member

    0
    Jan 15, 2002
    Professional Status:
    Licensed Appraiser
    State:
    Georgia
    Having a clint to request the new form 1/1/09.
    I saw a copy from Ala Mode
    Do we or will we have one?
     
  2. Mr Rex

    Mr Rex Elite Member

    213
    Jan 12, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    It was in the latest update from Wintotal. Dec 18th.
     
  3. Mike Garrett RAA

    Mike Garrett RAA Elite Member

    37
    Jan 14, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Colorado
    yep, actually you could have down loaded a beta about a month ago.
     
  4. Gary Schinagel

    Gary Schinagel Sophomore Member

    0
    Jul 3, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    New Mexico
    Has anyone been teaching a protocol to follow on the new mandatory 1004MC. What should we be expecting for this information in practical application. Lots of loose ends on this mathmatical report that STILL REQUIRES HUMAN INPUT and standardized parameters. The real issue is for at in term have an approved all equal playing field in identifying what our standard reporting parameters are(or should be). There is alot of exposure because it is new and the protocol has not been set. I understand the intent is to QUANTIFY the stated boxes we trend. If not matching you need to explain. We have already been doing that and reacting with already lower values and extended marketing time. Its just an item that of additional burden and not near as valuable if not clearly defined. They took about a year to come up with numbers that fit into a box line item before.
    If you hear of a productive class or some good comments as to APPLICATION STANDARDS for data used or are using yourself please pass it along. We are in a nondisclosre state over hear so the problem is magnified with no real direct public access.
    Gracias!
     
  5. Pam Wyant

    Pam Wyant Senior Member

    110
    Feb 12, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    West Virginia
    I don't think there can be standard reporting parameters as each market will be very different in the type of data that can be gathered based on the MLS used, or the lack of MLS in some cases.

    Another useless form to take up our time. The dishonest will manipulate the data to suit their needs, the honest appraiser will beat their heads against the wall trying to provide data that the client won't understand anyway. The good appraisers in the areas the data is readiliy available have been doing this or something similar (or superior) anyway.
     
  6. valuequestor

    valuequestor Junior Member

    0
    Aug 12, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Using MRIS for the 1004MC

    Anybody out there in VA/MD/PA using the MRIS data have a good system for coming up with listing history for comparable properties ?? We are now getting orders that require this questionable form. Wish they had gone more of the ERC route for getting this information.
     
  7. George Hatch

    George Hatch Elite Member

    308
    Jan 15, 2002
    Professional Status:
    Certified General Appraiser
    State:
    California
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